Final 12 months was Volvo’s second consecutive 12 months of file gross sales, with 763,389 vehicles delivered, or 8 p.c greater than the earlier 12 months. Regardless of this stable outcome, the Geely-owned model braces for a “turbulent 2025 on account of difficult market situations.” To remain aggressive, it is placing the ending touches on an up to date lineup, together with refreshed merchandise and portfolio additions.
In the course of the convention following the full-year report, Volvo President and CEO Jim Rowan mentioned what lies forward. The EX30 Cross Nation, a rugged spinoff of the corporate’s smallest electrical crossover, will arrive on February 10. Extra importantly, the Swedes are releasing their first electrical sedan, the ES90, this 12 months. Moreover, a plug-in hybrid with a protracted electrical vary is earmarked for China, whereas two present fashions will endure a refresh.
Photograph by: Volvo
The EX60 will not go on sale this 12 months, however prototypes can be constructed and examined in 2025. It’s going to hit the market in 2026 because the model’s first electrical mannequin underpinned by the SPA3 platform, enabling the luxurious model to realize a “important discount on value.” Whether or not meaning decrease costs for customers stays to be seen, however Volvo does pledge to ship “buyer advantages and new expertise developments.”
Rowan claims the brand new EX60 can be a “recreation changer” for the model, with two further SPA3-based fashions already within the works. Nonetheless, Volvo will not completely concentrate on EVs. It has already deserted plans to go totally electrical by 2030. As an alternative, it desires plug-in hybrid and electrical fashions to account for 90-100% of gross sales. In the course of the convention, the agency’s CEO mentioned mild-hybrid vehicles are nonetheless on the menu for the years to come back.
A spokesperson not too long ago mentioned the XC90 with gasoline engines will proceed for so long as there’s demand. The big gasoline SUV, which turns 10 this 12 months, underwent a second facelift in 2024 and is right here to remain for the lengthy haul. Though it isn’t giving up on ICE, the corporate nonetheless sees a vivid future for EVs, inspired by its sturdy 2024 outcomes.
Gross sales of zero-emission vehicles elevated by 54 p.c to 175,194 models or 23 p.c of complete deliveries. Volvo is blissful to report that EVs had the best market share amongst conventional luxurious automakers. Taking plug-in hybrids under consideration, vehicles with a charging port (PHEVs+EVs) accounted for 46 p.c of complete shipments final 12 months.
